File No. 70-8655

                SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.

            __________________________________________

                             FORM U-1

                  POST-EFFECTIVE AMENDMENT NO. 1

                    TO APPLICATION-DECLARATION

                            UNDER THE

            PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
            __________________________________________


Names of Companies filing this statement and addresses of 
principal executive offices:

                      National Fuel Gas Company
                      10 Lafayette Square
                      Buffalo, New York  14203

                      Leidy Hub, Inc.
                      10 Lafayette Square
                      Buffalo, New York  14203
 

Name of Top Registered Holding Company:  NATIONAL FUEL GAS COMPANY

Name and Addresses of Agents for Service:

Walter E. DeForest, President       Anna Marie Cellino, Secretary
Leidy Hub, Inc.                     National Fuel Gas Company
10 Lafayette Square                 10 Lafayette Square
Buffalo, New York  14203            Buffalo, New York  14203

It is respectfully requested that the Commission send copies of 
all notices, orders, and communications to:

                      James R. Peterson, Esq.
                      Suite 1500
                      10 Lafayette Square
                      Buffalo, New York  14203



Item 1.  Amended to Add the Following:



         In addition to the various transactions described in the 

original U-1 filing, approved by the Commission in Release No. 

35-26365, dated August 31, 1995, National Fuel Gas Company ("NFG") 

and Leidy Hub, Inc. ("Leidy") respectfully request the 

Commission's approval and/or authorization to extend 

interest-bearing loans through Leidy to its subsidiary, 

Enerchange, L.L.C. ("Enerchange") at negotiated rates up to a 

maximum of $50 million in outstanding loans for a term of ten 

years.

         Under the terms of the Application-Declaration and the 

Release of August 31, 1995, NFG, through Leidy, was authorized to 

acquire a 14.5% interest in Enerchange.  In addition, Leidy was 

further authorized to make loans to Enerchange to compensate for a 

defaulting member's failure to make required capital 

contributions, as contemplated by the Limited Liability Company 

Agreement.  The amounts of such potential loans would be based on 

the ratio of Leidy's 14.5% interest to the interests of the other 

non-defaulting members of Enerchange.

         Leidy now requests authorization to extend 

interest-bearing loans to Enerchange in circumstances other than 

those mentioned in the original Application-Declaration.  These 

loans would be at rates and terms negotiated and agreed upon 

between Leidy and Enerchange, just like loans from the other 

owners to Enerchange.

         The proposed transactions would allow Enerchange to 

borrow money at desirable interest rates with maximum flexibility 

of terms.  Rule 45 (17 C.F.R. Section 250.45) already authorizes 

Leidy to make interest-free loans to Enerchange without 

limitation.  Applicants seek only the comparable authority for 

interest bearing loans.

         Loans between Leidy and Enerchange would have a de 

minimis effect on the capital structure of the National Fuel 

Holding Company System (the "System").  Leidy would not be 

obligated to make loans at any rate it considers undesirable.  

Furthermore, the proposed transactions would not be detrimental to 

the public interest, ratepayers, investors, consumers, or the 

proper functioning of the System.  There is no danger of the 

System exercising excessive control over Enerchange.  The System's 

interest in and influence of Enerchange is restricted by its 

allocable share of 14.5%, which is Leidy's effective voting power 

in Enerchange.





                            SIGNATURES



         Pursuant to the requirements of the Public Utility 

Holding Company Act of 1935, the undersigned companies have duly 

caused this Amendment to be signed on their behalf by the 

undersigned thereunto duly authorized.



Dated:  August 29, 1996



                              NATIONAL FUEL GAS COMPANY


                              By /s/ Anna Marie Cellino
                                  Anna Marie Cellino
                                  Secretary


                              LEIDY HUB, INC.


                              By /s/ Walter E. DeForest
                                  Walter E. DeForest
                                  President